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Prince Edward Island Mortgage Information

Busy Months for Mortgages in Prince Edward Island

The 6-year bar graph below illustrates the volumes of applications received by Super Brokers in each month for all years combined. The busiest months for mortgages occur during our first quarter (represented by the brown bars) with 27.89% while our slowest is the fourth quarter (represented by the red bars) with 20.07%.

Busy Months Report for Prince Edward Island Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 January: 11.2%
2 June: 10.2%
3 April: 9.2%
4 August: 9.2%
5 February: 8.8%
6 May: 8.5%
RankMonth Percentage of Applications
7 September: 8.5%
8 March: 7.8%
9 October: 7.5%
10 November: 6.5%
11 July: 6.5%
12 December: 6.1%

Busy Days for Mortgages in Prince Edward Island

The data below compares the busy days for mortgage applications that were received by the Super Brokers web site. Each day is a representation of the combined 6-year total of all instances of that day. In Prince Edward Island the busiest day, with 20.07% of all submissions, is Thursday. In comparison, Sunday's are the slowest day with only 8.84% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Thursday: 20.1%
2 Monday: 18.7%
3 Tuesday: 16.0%
4 Friday: 12.9%
5 Wednesday: 12.9%
6 Saturday: 10.5%
7 Sunday: 8.8%
Busy Days Report for Prince Edward Island Mortgages

Peak Hours for Prince Edward Island Mortgage Applications

In Prince Edward Island, applications are received 24 hours a day from our web site. The following represents the busy hours in the day. The data is taken from all days of all years.


Peak Hours Graph for Mortgages in Prince Edward Island
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 0.3%
1AM 01:00 to 01:59: 0.7%
2AM 02:00 to 02:59: 0%
3AM 03:00 to 03:59: 1.0%
4AM 04:00 to 04:59: 2.0%
5AM 05:00 to 05:59: 2.0%
6AM 06:00 to 06:59: 4.8%
7AM 07:00 to 07:59: 3.7%
8AM 08:00 to 08:59: 5.8%
9AM 09:00 to 09:59: 5.4%
10AM 10:00 to 10:59: 8.2%
11AM 11:00 to 11:59: 6.8%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 6.1%
1PM 13:00 to 13:59: 8.2%
2PM 14:00 to 14:59: 5.4%
3PM 15:00 to 15:59: 6.5%
4PM 16:00 to 16:59: 6.8%
5PM 17:00 to 17:59: 6.5%
6PM 18:00 to 18:59: 8.8%
7PM 19:00 to 19:59: 3.4%
8PM 20:00 to 20:59: 3.7%
9PM 21:00 to 21:59: 2.0%
10PM 22:00 to 22:59: 1.4%
11PM 23:00 to 23:59: 0.3%

Prince Edward Island Mortgage Originations Compared to all other Provinces and Territories


Online Mortgage Origination for the Province or Territory of Percentage in Comparison
Alberta: 4146.3%
British Columbia: 2045.9%
Manitoba: 394.2%
New Brunswick: 496.9%
Newfoundland and Labrador: 256.1%
Nova Scotia: 647.6%
Northwest Territories: 96.3%
Nunavut: 19.0%
Ontario: 9307.1%
Prince Edward Island: 100.0%
Quebec: 774.8%
Saskatchewan: 991.2%
Yukon: 92.9%

Top Producing Cities / Towns for Mortgages in Prince Edward Island

Rank City or Town within
Prince Edward Island
Percentage
of Inquiries
Avg
Age
Average
Income
Average
Co-Income
Average
Home Loan
1CHARLOTTETOWN, PE 37.075% 36 $44,815 $30,851 $128,741
2SUMMERSIDE, PE 7.823% 37 $40,857 $34,062 $110,789
3STRATFORD, PE 6.803% 39 $56,278 $60,300 $127,473
4CORNWALL, PE 6.122% 38 $43,882 $27,428 $104,740
5MONTAGUE, PE 4.422% 41 $46,934 $30,737 $110,125
6SOURIS, PE 3.741% 39 $41,043 $35,245 $102,454
7O'LEARY, PE 3.401% 45 $37,500 $15,000 $77,500
8KENSINGTON, PE 2.721% 40 $41,211 n/a $101,028
9GEORGETOWN, PE 2.381% 32 $35,500 n/a $83,166
10KINKORA, PE 2.041% 31 $38,000 $33,250 $129,483
11CARDIGAN, PE 1.701% 37 $51,700 n/a $135,975
12NORTH WILTSHIRE, PE 1.361% 34 $33,750 $29,500 $41,500
13TIGNISH, PE 1.361% 30 $31,250 n/a $84,225
14WELLINGTON STATION, PE 1.361% 37 $39,500 n/a $92,166
15MISCOUCHE, PE 1.361% 35 $24,100 n/a $84,225
16YORK, PE 1.020% 35 $35,973 n/a $118,333
17MOUNT STEWART, PE 1.020% 31 $57,680 $41,000 $108,333
18WINSLOE, PE 0.680% 28 $82,500 n/a $140,000
19ALBANY, PE 0.680% 42 $35,000 n/a $62,450
20MURRAY HARBOUR, PE 0.680% 45 $50,119 $47,500 $59,900
21VICTORIA, PE 0.680% 55 $17,500 n/a $47,056
22NEW LONDON, PE 0.680% 35 $28,000 n/a $50,000
23SLEMON PARK, PE 0.680% 49 $55,640 n/a $89,900
24BELFAST, PE 0.680% 41 $34,750 n/a $77,250
25ALBERTON, PE 0.680% 43 $197,500 n/a $84,000
26VERNON BRIDGE, PE 0.680% 38 $20,500 n/a $76,500
27ST-PETERS BAY, PE 0.680% 48 $36,000 n/a $32,500
28HUNTER RIVER, PE 0.680% 37 $49,800 $50,000 $242,500
29CENTRAL BEDEQUE, PE 0.680% 38 n/a n/a $37,500
30RICHMOND, PE 0.680% 40 $41,000 n/a $50,000

Types of Mortgage Inquiries Received from Prince Edward Island


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Mortgage Pre-approval: 20.7%
First-time Home Buyer: 20.7%
New Home Purchase: 17.3%
Refinance / Debt Consolidation: 16.3%
No Money Down Mortgage (discontinued): 12.6%
Mortgage Renewal: 5.8%
Other: 6.3%
 
Total Application Types Found: 13

Age Demographics for Prince Edward Island Mortgage Inquiries

Average age: 37
Oldest age: 70
Youngest age: 20


Incomes for Prince Edward Island Mortgage Inquiries

The following figures show the average income of Canadians living in Prince Edward Island who have applied for a loan using the online application located at the Mortgage Super Brokers' web site.

Average annual gross income for
mortgage applicants in Prince Edward Island: $44,274.74
applicants within all of Canada: $60,852.54
Difference: ($16,577.81)
  
mortgage co-applicants in Prince Edward Island: $34,414.78
co-applicants within all of Canada: $43,965.51
Difference: ($9,550.73)

Note: Commercial loans were not included for this survey, only residential mortgage loans were used.

Last mortgage report update for Prince Edward Island: Friday, July 1, 2016
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